Free2Move Lease becomes Vauxhall’s in-house business contract hire provider

Free2Move Lease has been appointed as in-house provider of business contract hire for the Vauxhall retailer network. The moves follows Opel/Vauxhall’s acquisition by Groupe PSA two years ago from previous owners GM.

Free2Move Lease becomes Vauxhall’s in-house business contract hire provider

May 24, 2019

Kingston Capital Finance launches new business following success of finance portal

Kingston Capital Finance has launched a new division called Synergi Partner Finance following the successful launch of its online service last year. The Synergi portal helps vendors to quickly introduce finance options to their customers and then submit deals once the customer decides to proceed, while providing support for managers to track the progress of deals. It won the 2018 IAFN Best Use of Technology (Equipment Finance) award and the launch of a dedicated business is intended to make the most of the point-of-sale finance solution.

Kingston Capital Finance launches new business following success of finance portal

May 23, 2019

Nina Bell appointed first female chair of British Vehicle Rental and Leasing Association

The BVRLA has appointed Nina Bell as the first female chair of the association. She takes over from LeasePlan’s Matt Dyer, who stepped down at the BVRLA’s annual general meeting after completing his two-year term. Bell, who has worked for Avis Budget for seven years and has been UK managing director since 2015, joined the BVRLA’s management committee four years ago and was appointed to the position of vice-chair last year.

Nina Bell appointed first female chair of British Vehicle Rental and Leasing Association

May 23, 2019

AF50 2019 reveals UK’s biggest asset finance companies

The current leaders of the UK’s dynamic asset finance market have been revealed in the exclusive 2019 Asset Finance 50. The annual AF50 is the UK’s most influential survey of business and equipment lessors, which tracks the health of the market and identifies the key trends that are set to have an impact on the sector. This year’s report, sponsored by Alfa, reveals that the total net investment in leasing for the top 50 firms is £38 billion, up 6.2% from £35.9 billion in last year’s report. The top 10 firms represent 60.6% of the AF50, up from 59.3% last year, with the largest company, Lombard, accounting for 15% of the market. In addition to profiling the largest companies in the UK asset finance arena, the report includes in-depth analysis of the industry.

AF50 2019 reveals UK’s biggest asset finance companies

May 22, 2019

Tarun Mistry’s new advisory service offers asset lenders a refreshing new approach

Tarun Mistry’s newly established advisory practice, T. Mistry & Associates (t/a TMA), for the asset finance industry, is virtually unique in its wide diversity of specialisms. These range from equipment leasing, motor finance, invoice & trade finance, rental and contract hire to commercial loans and mortgages. Mistry told Asset Finance International that most aspects of the consumer and business lending industry are topics for expert advice from TMA including regulated and unregulated, secured and unsecured, prime, near-prime and sub-prime markets.

Tarun Mistry’s new advisory service offers asset lenders a refreshing new approach

May 22, 2019

Peter Thomas steps down from Leasing Foundation as new board confirmed

Peter Thomas has stepped down from his role as executive director of the Leasing Foundation. Thomas, a Leasing Foundation co-founder, will be concentrating on developing a new global network looking at the future of finance, as chief executive officer and founding partner of THEORICA, formerly the Future Finance Network. He will continue working with many former and current foundation colleagues on a range of issues beyond equipment and asset finance. His move comes as a new board line-up is announced focused on technology leadership, young people and diversity and inclusion.

Peter Thomas steps down from Leasing Foundation as new board confirmed

May 21, 2019

NFS Ascent Goes Live in Japan

Global finance software solutions provider NETSOL Technologies has implemented its NFS Ascent wholesale finance system in Japan for a leading German auto captive. The launch marks the seventh country where it has successfully deployed the next-generation NFS Ascent system as part of a $110 Million, 12-country contract, originally signed in 2015. The contract includes implementations, licenses, maintenance, services and expected customisation fees for the deployment, which represents the largest contract in NETSOL’s history.

NFS Ascent Goes Live in Japan

May 21, 2019

How finance industry leaders must embrace change to drive future growth

Finance industry leaders are taking insights from the FinTech sector as they adapt their companies to a changing business environment. The competitive landscape of asset finance means that companies must embrace change to maintain differentiation and secure loyalty among customers, according to a leading panel of executives. Panellists present at the IAFN Conference included Nathan Mollett, director of Metro Bank Asset Finance, who remarked: “In equipment finance right now, there just isn’t enough innovation. In equipment finance I think increasingly there will be a bigger requirement to have on-demand models. “We are seeing a bit of that in construction and maybe agriculture, but traditional equipment financiers will have to develop pay-as-you-use models to create that differentiation.”

How finance industry leaders must embrace change to drive future growth

May 09, 2019

MaaS pioneer moovel launches mobility project with Daimler Financial Services

Daimler Financial Services has introduced a new mobility budget for more than 3,000 employees in a partnership with travel app pioneer moovel. The corporate mobility budget provides employees with credit so they can book and pay for journeys using the moovel app, including bus and train, car-sharing services from Share Now (formerly car2go and DriveNow), the ride-hailing service mytaxi and rental bikes. The mobility budget, which also includes private use, enables employees to commute each day without using their own cars and can be used in Stuttgart, Berlin, Hamburg, Munich, Frankfurt, Cologne, Düsseldorf, Karlsruhe and Aschaffenburg.

MaaS pioneer moovel launches mobility project with Daimler Financial Services

May 21, 2019

Startline Motor Finance secures new funding from JP Morgan as growth continues

Startline Motor Finance has secured a new £325 million credit facility from multinational investment bank JP Morgan in its latest phase of growth since launching in Glasgow six years ago. It is the second arrangement of its type between the two companies, following a successful £250 million facility issued at the end of 2017. The funding deals reflect rapid expansion at Startline Motor Finance, which ended the first quarter of 2019 with business volumes up more than 20% on the same period last year, while its headcount has doubled to 80 people.

Startline Motor Finance secures new funding from JP Morgan as growth continues

May 20, 2019

Aldermore and MotoNovo complete integration

Aldermore, the specialist bank, has completed the integration of MotoNovo Finance following the bank’s acquisition by FirstRand. The combined businesses are expected to offer a range of strategic benefits and synergies, with a total of 750,000 customers between them. FirstRand, the largest financial services group in Africa, has owned MotoNovo since 2006 and bought Aldermore last year.

Aldermore and MotoNovo complete integration

May 18, 2019

Panellists revealed ahead of next Leasing Foundation Innovation Initiative event

The line-up of expert speakers has been revealed for the next Leasing Foundation Innovation Initiative debate, which will take place this Wednesday, May 22, in London. Carl Davis, founder of Downswood will be joined by Conrad Ford, CEO, Funding Options, Marc Plato, senior new business development manager, The IDCo and Daniel Weaver, head of innovation, Equifax. The event, titled Data and Decisions, will be chaired by Tom Perkins, director of Charles & Dean.

Panellists revealed ahead of next Leasing Foundation Innovation Initiative event

May 18, 2019

NVM Private Equity invests £2.2m in Quotevine

Quotevine, the provider of Software-as-a-Service solutions for the asset and automotive finance industries, has received £2.2 million in funding from private-equity firm, NVM. The UK based investors’ backing of Quotevine will support UK growth over the next three years and will be used to invest in developer and operations workforces as it expands. Quotevine helps asset and automotive finance companies modernise operations and create opportunities from disruptive technologies such as the Internet of Things and artificial intelligence.

NVM Private Equity invests £2.2m in Quotevine

May 16, 2019

Hampshire Trust Bank appoints Paul Bartley as managing director of asset finance division

Hampshire Trust Bank has appointed Paul Bartley as managing director of its asset finance division, Specialist Business Finance. Bartley was a founder director and shareholder of Close Leasing between 2007 and 2017 and more recently founded and built a disruptive digital platform in the retail car sales and finance market, FairSquare.com. His appointment is effective immediately and he will join the bank’s executive committee, reporting directly to chief executive officer Matthew Wyles.

Hampshire Trust Bank appoints Paul Bartley as managing director of asset finance division

May 14, 2019

Why connectivity is king

Amazon CEO Jeff Bezos realised that connectivity is king almost two decades ago and is now head of one of the world’s most valuable corporations. A now-famous email from the Amazon CEO to all staff back in 2002 ordered all applications to be designed so that they could be connected to other applications. The price of not doing so? Their job. Here are some key extracts from the email:

Why connectivity is king

May 14, 2019

UK automotive sector misses out on revenue worth £25 billion due to lack of finance

Growing UK automotive businesses are missing out on revenues worth £25 billion because they lack access to finance that would unlock potential growth, according to new research. Analysis carried out by Wyelands Bank found that 96% of mid-sized automotive manufacturers with a turnover of £10 million to £300 million said they were held back due to a lack of finance. Each of the 305 automotive firms included in the study claimed that the difficulties raising finance meant each company missed out on an average of £24.8 million in revenues, and an average of 24 new contracts, which would have created 21 new jobs.

UK automotive sector misses out on revenue worth £25 billion due to lack of finance

May 10, 2019

VW Financial Services UK appoints Jean Smith as chief financial officer

VW Financial Services UK has appointed Jean Smith as chief financial officer for the UK. She takes the role after four years in a number of international roles, including joint managing director of VW Pon Financial Services in the Netherlands. She was previously the head of international controlling Europe for VWFS in Germany and has worked in both the captive and non-captive financial services for more than 30 years.